Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: Stock Traders Daily
$20.00
Provider: New Constructs, LLC
$25.00
Provider: MacroRisk Analytics/EconomicInvestor
$25.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Caterpillar Inc And Mining Machinery Limited Announce Settlement Agreement Related To Siwei Acquisition


Thursday, 16 May 2013 07:01pm EDT 

Caterpillar Inc and Mining Machinery Limited announced that they have resolved all outstanding issues between them arising out of Caterpillar's acquisition of ERA, including wholly owned subsidiary Zhengzhou Siwei Mechanical & Electrical Manufacturing Co., Ltd., commonly known as Siwei. Caterpillar reached this agreement with two former directors of ERA, Emory Williams and John Lee, and two other parties with an interest in the settlement, Mining Machinery Limited and James Thompson III (collectively the MML Parties). As part of the resolution of outstanding issues between the parties, Caterpillar's total outstanding obligations of $164.5 million to the MML Parties, which were part of Caterpillar's obligations relating to acquisition of ERA, were reduced by $135 million to $29.5 million. In addition, Caterpillar and the MML Parties have mutually released all their claims relating to the acquisition of ERA. In addition to entering into the settlement agreement, Caterpillar has agreed that a company affiliated with the MML Parties may purchase from Siwei certain receivables and other assets. 

Company Quote

97.61
-1.42 -1.43%
1 Oct 2014